Luxembourg Leaks Reveal Global Corporate Tax Crisis.

Posted on December 4, 2014

by Jerry Alatalo

ocean55The International Consortium of Investigative Journalists (ICIJ) has produced more world-shaking reports on secret, massive tax evasion schemes, this time focused on Luxembourg. The six month project – “Lux Leaks” – was undertaken by ICIJ journalists around the Earth, and has reverberated and been reported by the largest news organizations in the world. Because of the revelations a great deal of pressure has become felt by new European Commission President Jean-Claude Juncker – whose previous government position was as Prime Minister of Luxembourg for 19 years.

Somewhere in the neighborhood of 340 of the world’s most well-known corporations have become identified for using complex accounting schemes in Luxembourg, avoiding paying taxes altogether in their home nations, while paying as little as 1/4 of 1% tax to Luxembourg on tens of millions of Euros in income.

Whether ICIJ’s second tax evasion bombshell in recent years – the first revealed massive corporate/individual tax cheating carried out in the British Virgin Islands tax haven – results in strong, concrete actions to tackle the decades-old, trillion-dollar per year, global tax avoidance/haven industry, enabled by the world’s largest accounting and legal firms, will become publicly known as this astonishing news story grows.

The following link to ICIJ’s website opens the door to a treasure of information/articles explaining in detail what their journalists around the world have uncovered so far:  http://www.icij.org/project/luxembourg-leaks

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(Thank you to TheLipTV at YouTube)

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